PTC Thermistor Market Research Report and Outlook by 2028

The PTC thermistor market is projected to grow from US$ 372.06 million in 2021 to US$ 475.21 million by 2028, reflecting a compound annual growth rate (CAGR) of 3.6% during this period.

The PTC thermistor market is categorized into five primary regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, the APAC region dominated the global PTC thermistor market. Several East Asian countries, particularly China, South Korea, Taiwan, Japan, Malaysia, the Philippines, and Thailand, significantly depend on the electronics manufacturing sector for their export economy. As the Asian market has solidified its status as a leading hub for electronics and semiconductor production globally, the demand for various electronic components, including resistors, motors, and drivers, continues to increase, thereby driving market expansion.

In North America, initiatives such as the Materials Genome Initiative, which aims to accelerate the development and manufacturing of advanced materials, are anticipated to boost the demand for industrial electronics and components utilized in machinery, consequently increasing the need for resistors. The combination of a robust manufacturing base, automotive sensing applications, and the rising demand for industrial electronics in the United States is expected to further stimulate market growth in this region.

The economic impact of the COVID-19 pandemic led to a significant decline in GDP across various Asian economies in 2020, with India being particularly affected. The restrictions imposed by governments to mitigate the spread of the virus resulted in a halt to many economic activities, which in turn disrupted production processes due to workforce limitations. The automotive and consumer electronics sectors are crucial for the PTC thermistor market in this region. The pandemic adversely affected the sales of HVAC systems and electronic devices. According to the Automobile Industry Associations, the Indian automotive sector experienced an estimated daily loss of around US$ 31,164 million during 2020. PTC thermistors serve as heaters in the automotive sector, providing additional warmth in vehicle cabins alongside diesel engines or heating diesel in cold weather. The sharp decline in automobile production directly impacted the demand for PTC thermistors. However, as economies reopened and industries resumed operations, the demand for PTC thermistors from various end-user sectors began to recover gradually.

The PTC thermistor market is further divided based on type, mode, and application. In terms of type, the market is classified into ceramic PTC and polymer PTC. Regarding mode, it is segmented into self-heating mode and sensor mode. Applications of PTC thermistors include telecommunications and networking, automotive systems, industrial electronics, consumer electronics and home appliances, medical devices, and others.

The overall size of the PTC thermistor market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This approach also aimed to provide a comprehensive overview and forecast for the PTC thermistor market across all segments and regions. Additionally, numerous primary interviews were conducted with industry stakeholders and experts to validate the data and gain deeper analytical insights. Participants in this process included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the PTC thermistor market. Key players in the global PTC thermistor market include G Bourns, Inc.; Littelfuse, Inc.; Murata Manufacturing Co., Ltd.; Polytronics Technology Corporation; and TE Connectivity.